debt limit

The only “faction” that controls whether to default, remains president of the United States.

Conservatives should be happy that Speaker John Boehner will agree to a short-term raising of the debt limit while insisting that President Barack Obama and the Democrats compromise over a continuing budget resolution to end the government shutdown.

Not because the former removes the specter of an actual “default”, but rather because it removes any plausible Democratic Party or media (but I repeat myself) allegation that a Republican refusal to raise the debt ceiling could be the cause of any downward market activity before or after the Obama Treasury Department-declared deadline of October 17.